Input-output analysis is a technique used to solve complicated market equations
a. True
b. False
Indicate whether the statement is true or false
True
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Budget lines are drawn on a diagram with the
A) price of the good on the vertical axis and its quantity on the horizontal axis. B) price of one good on the vertical axis and the price of another good on the horizontal axis. C) quantity of the good on the vertical axis and its price on the horizontal axis. D) quantity of one good on the vertical axis and the quantity of another good on the horizontal axis.
What is the dominant strategy for a bidder in an English auction?
What will be an ideal response?
When a tax is imposed on the buyers of a good, the demand curve shifts
a. downward by the amount of the tax. b. upward by the amount of the tax. c. downward by less than the amount of the tax. d. upward by more than the amount of the tax.
Last year the imaginary nation of Panglossia had real GDP of 400 billion. This year it had real GDP of 472.5 billion. Which of the following changes in population is consistent with a 5 percent growth rate of real GDP per person over the last year?
a. The population decreased from 75 million to 72 million. b. The population decreased from 60 million to 50 million. c. The population increased from 70 million to 80 million. d. The population increased from 80 million to 90 million.